SINGAPORE – There will be a small respite for car buyers when the new certificate of entitlement (COE) quota starts next month.
The Land Transport Authority announced on Tuesday (Oct 13) that COEs for cars (including Open COEs) will increase by 5.8 per cent to 4,865 a month for the November-January period.
Of the lot, 1,925 will be for cars up to 1,600cc and 130bhp (down from 1,967), 2,014 for cars above 1,600cc or 130bhp (up from 1,729), and 926 for the Open category (up from 903).
Open COE can be used for any vehicle type except motorcycles but ends up mostly for bigger cars.
Commercial vehicle buyers will have 735 COEs a month, up from 674; while motorcyclists will have 1,049 COEs a month, up from 934.
In total, the average monthly quota comes up to 6,649, or 7.1 per cent more than the current period.
Observers said the bigger supply of COEs is likely to ease prices for commercial vehicles – currently at the highest in more than two years – as well as for motorbikes.
Car COEs, however, may remain largely unchanged because the 1,600cc category, which accounts for the bulk of the quota, has actually contracted in size.
Source: Read Full Article